Earls Colne-based Milbank Concrete Products acquired Colchester-based Cadman Cranes
- Credit: Archant
Two north Essex businesses have joined forces with Earls Colne-based Milbank Concrete Products acquiring Cadman Cranes of Colchester.
Milbank, which was founded in 1947 and is now one of the UK’s leading manufacturers of precast concrete, says the addition of Cadman Cranes will enable it to extend the range of services offered to its customers.
Cadman Cranes traces its history back to 1976 when Colchester building company Cadman added cranes to its allied plant hire operation. Cadman Cranes was incorporated as a company in its own right from the start of January 2005.
The 165 employees of Cadman Cranes will transfer to Milbank, which was originally established in Chelmsford but has been based at Earls Colne since 1985.
Milbank was advised on the deal, the financial details of which have not been disclosed, by regional law firm Birketts.
James Allen, partner in Birketts’ corporate team, led the transaction, supported by other specialists across the firm including Ed Savory and Laura Ing-Beaufils.
Sean Milbank, chairman of Milbank Concrete Products, said: “Birketts is well-known for having construction-industry expertise as well as providing a premier corporate law service.
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“When you add to that the levels of client service we received it is easy to see why the firm is held in such high regard.”
James Allen of Birketts added: “It has been a pleasure to advise the Milbank Board on the purchase of Cadman Cranes which will see two of East Anglia’s finest firms unite.
“This acquisition provides the ideal platform for Milbank Concrete Products to capitalize on the growth opportunities from within the UK construction industry as well as branch out into other sectors. I look forward to watching the business continue to go from strength-to-strength.”
The CM Cadman Group, based at Stanway, near Colchester, is not affected by the transaction.